AM vs. ET
AM (Antero Midstream Corporation) and ET (Energy Transfer LP) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, AM returned 7.67%/yr vs 11.35%/yr for ET. Their 0.52 correlation means they have sometimes moved together and sometimes differently.
Performance
AM vs. ET - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with AM having a 27.62% return and ET slightly higher at 27.95%. Over the past 10 years, AM has underperformed ET with an annualized return of 7.67%, while ET has yielded a comparatively higher 11.35% annualized return.
AM
- 1D
- 1.95%
- 1M
- -1.16%
- 6M
- 19.18%
- YTD
- 27.62%
- 1Y
- 24.05%
- 3Y*
- 29.97%
- 5Y*
- 26.57%
- 10Y*
- 7.67%
- ALL TIME*
- 5.23%
ET
- 1D
- 0.59%
- 1M
- 5.33%
- 6M
- 14.36%
- YTD
- 27.95%
- 1Y
- 23.30%
- 3Y*
- 24.81%
- 5Y*
- 25.10%
- 10Y*
- 11.35%
- ALL TIME*
- 13.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $48.96M | $46.06M | $51.05M | |
| $181.38M | $169.96M | $202.69M |
AM vs. ET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 27.62% | 24.37% | 28.46% | 25.73% | 21.98% | 39.55% | 27.59% | -60.29% | -22.28% | -2.32% |
ET Energy Transfer LP | 27.95% | -9.37% | 53.87% | 27.87% | 55.74% | 42.96% | -44.92% | 5.88% | -17.74% | -4.66% |
Correlation
The correlation between AM and ET is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.49 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2014 | 0.52 |
The correlation between AM and ET shifts across timeframes, from 0.49 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
AM:
$10.43B
ET:
$70.06B
AM:
$0.83
ET:
$1.35
AM:
26.37
ET:
15.09
AM:
8.17
ET:
0.82
AM:
5.39
ET:
1.42
AM:
$1.29B
ET:
$89.38B
AM:
$620.54M
ET:
$20.48B
AM:
$884.12M
ET:
$13.02B
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Return for Risk
AM vs. ET — Risk / Return Rank
AM
ET
AM vs. ET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Antero Midstream Corporation (AM) and Energy Transfer LP (ET). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AM | ET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.69 | -0.68 |
| Martin ratioReturn relative to average drawdown | 4.20 | 5.90 | -1.70 |
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Drawdowns
AM vs. ET - Drawdown Comparison
The maximum AM drawdown since its inception was -93.01%, which is greater than ET's maximum drawdown of -87.81%. Use the drawdown chart below to compare losses from any high point for AM and ET.
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Drawdown Indicators
| AM | ET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.01% | -87.81% | -5.20% |
Max Drawdown (1Y)Largest decline over 1 year | -12.67% | -8.07% | -4.60% |
Max Drawdown (3Y)Largest decline over 3 years | -13.98% | -24.56% | +10.58% |
Max Drawdown (5Y)Largest decline over 5 years | -21.91% | -24.56% | +2.65% |
Max Drawdown (10Y)Largest decline over 10 years | -93.01% | -72.82% | -20.19% |
Current DrawdownCurrent decline from peak | -4.96% | -0.29% | -4.67% |
Average DrawdownAverage peak-to-trough decline | -31.57% | -25.58% | -5.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.02% | 3.69% | +2.33% |
Volatility
AM vs. ET - Volatility Comparison
Antero Midstream Corporation (AM) has a higher volatility of 6.77% compared to Energy Transfer LP (ET) at 5.35%. This indicates that AM's price experiences larger fluctuations and is considered to be riskier than ET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AM | ET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.77% | 5.35% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 12.18% | +3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.71% | 16.29% | +4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.15% | 24.35% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.89% | 34.21% | +7.68% |
Dividends
AM vs. ET - Dividend Comparison
AM's dividend yield for the trailing twelve months is around 4.10%, less than ET's 6.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 4.10% | 5.06% | 5.96% | 7.18% | 8.34% | 10.15% | 15.95% | 18.28% | 7.53% | 4.27% | 3.14% | 2.93% |
ET Energy Transfer LP | 6.56% | 7.97% | 6.51% | 8.95% | 7.33% | 7.41% | 17.27% | 9.51% | 9.24% | 6.66% | 5.90% | 7.42% |
Financials
AM vs. ET - Financials Comparison
This section allows you to compare key financial metrics between Antero Midstream Corporation and Energy Transfer LP. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AM vs. ET - Profitability Comparison
AM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Antero Midstream Corporation reported a gross profit of 0.00 and revenue of 327.24M. Therefore, the gross margin over that period was 0.0%.
ET - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Energy Transfer LP reported a gross profit of 6.62B and revenue of 27.77B. Therefore, the gross margin over that period was 23.9%.
AM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Antero Midstream Corporation reported an operating income of 181.91M and revenue of 327.24M, resulting in an operating margin of 55.6%.
ET - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Energy Transfer LP reported an operating income of 2.98B and revenue of 27.77B, resulting in an operating margin of 10.7%.
AM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Antero Midstream Corporation reported a net income of 113.52M and revenue of 327.24M, resulting in a net margin of 34.7%.
ET - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Energy Transfer LP reported a net income of 1.25B and revenue of 27.77B, resulting in a net margin of 4.5%.
Frequently Asked Questions
AM and ET have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AM has higher volatility (6.77%) compared to ET (5.35%). In terms of maximum drawdown, AM dropped -93.01% vs ET's -87.81%.
ET currently has the higher Sharpe Ratio (1.33 vs 1.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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